Butterfield Announces Launch of Secondary Offering

February 21, 2017 06:11 PM Eastern Daylight Time

HAMILTON, Bermuda & NEW YORK--(EON: Enhanced Online News)--The Bank of N.T. Butterfield & Son Limited (“Butterfield”) (NYSE: NTB)
(BSX: NTB.BH) today announced that certain of its shareholders
(collectively, the “Selling Shareholders”), including affiliates of The
Carlyle Group (collectively, “Carlyle”), intend to offer 9,555,794
shares of Butterfield’s voting ordinary shares, par value $0.01 per
share (the “Common Stock”), in an underwritten public offering. In
addition, the Selling Shareholders intend to grant the underwriters a
30-day option to purchase up to an additional 1,433,369 shares of the
Common Stock at the public offering price, less underwriting discounts
and commissions. The shares offered, including the underwriters’ option
to purchase additional shares, will include all 7,632,569 shares
currently owned by Carlyle. Butterfield will not be issuing any shares
in connection with the offering and will not receive any proceeds from
the offering.

The pricing and completion of the offering remain subject to a range of
conditions.

Goldman, Sachs & Co., Citigroup, Sandler O’Neill & Partners and Keefe,
Bruyette & Woods are acting as the joint book-running managers, and
Raymond James and Wells Fargo Securities are acting as co-managers for
the offering.

This offering will only be made by means of a prospectus. When
available, copies of the preliminary prospectus related to the offering
may be obtained from Goldman, Sachs & Co., Attention: Prospectus
Department, 200 West Street, New York, NY 10282, or by telephone at
(866) 471 2526, or by e-mail at prospectus-ny@ny.email.gs.com,
from Citigroup, c/o: Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by telephone at (800) 831 9146, or by e-mail
at prospectus@citi.com, from
Sandler O’Neill & Partners, L.P., 1251 Avenue of the Americas, New York,
NY 10020, or by telephone at (866) 805 4128, or from Keefe, Bruyette &
Woods, Inc., by telephone at (800) 966 1559.

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission (“SEC”), but has not yet
become effective. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. Copies of the registration statement can be accessed through
the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.

Forward-Looking Statements

This News Release contains forward-looking statements, including with
respect to the registered secondary offering. Forward-looking statements
may generally be identified by the use of words such as "anticipate,"
"believe," "expect," "intend," "plan," and "will" or, in each case,
their negative, or other variations or comparable terminology. These
forward-looking statements include all matters that are not historical
facts. By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on circumstances
that may or may not occur in the future. As a result, actual events may
differ materially from those expressed in or suggested by the
forward-looking statements. Any forward-looking statement made by
Butterfield in this News Release speaks only as of the date hereof. New
risks and uncertainties come up from time to time, and it is impossible
for Butterfield to predict these events or how they may affect it.
Butterfield does not intend to update any forward-looking statements
after the date hereof, except as required by law.

About Butterfield

Butterfield is a specialist provider of international financial
services. The Butterfield Group offers a full range of community banking
services in Bermuda, and the Cayman Islands, encompassing retail and
corporate banking and treasury activities. The Group variously provides
private banking, asset management, investment advisory, residential
property lending and personal trust services from its headquarters in
Bermuda and subsidiary offices in The Bahamas, the Cayman Islands,
Guernsey, Switzerland and the United Kingdom. Butterfield also provides
services to corporate and institutional clients from offices in Bermuda,
The Bahamas, the Cayman Islands and Guernsey, which include asset
management and trust services. Butterfield is publicly traded on the New
York Stock Exchange. Butterfield is also publicly traded in Bermuda, and
its shares are listed on the Bermuda Stock Exchange.

Contacts

The Bank of N.T. Butterfield & Son LimitedMedia Relations
ContactMark Johnson, 441-299-1624Vice President, Group
Head of CommunicationsCellular: 441-524-1025Fax: 441-295-3878mark.johnson@butterfieldgroup.com

HAMILTON, Bermuda--(EON: Enhanced Online News)--The Bank of N.T. Butterfield & Son Limited (“Butterfield”) (NYSE: NTB) (BSX: NTB.BH) today announced that it has entered into an agreement to acq... more »